The cloud market is growing rapidly and represents an important opportunity for the retail and IT giant. The overall cloud applications services (SaaS) market is expected to experience a compound average growth rate of 14 percent between 2017 and 2021, with cloud system infrastructure services (IaaS) and cloud application infrastructure services (PaaS) expected to grow at a rate of 21.7 percent and 18.4 percent respectively. In terms of market size, these individual cloud service segments are expected to achieve revenues of 113.1 billion U.S. dollars (SaaS), 27.7 billion U.S. dollars (PaaS), and 63 billion U.S. dollars (IaaS) by 2021.
As of 2017, AWS was ranked among the four largest public cloud providers in the world, along with Google Cloud, Microsoft Azure and IBM Softlayer. AWS is also ranked as one of the leading information technology (IT) companies in the world, by revenue. Specifically in the infrastructure as a service market, AWS has been noted to have a majority of the market worldwide. Amazon's share of the IaaS segment was estimated at 51.8 percent as for 2017. For Amazon, AWS's IaaS revenue raked in 12.2 billion U.S. dollars in 2017.